Form 990 for tax year 2022
Filed by PROGRESS OKC A COMMUNITY DEVELOPMENT CORPORATION INC.
Totals
- Total revenue
- $87,818
- Total expenses
- $479,416
- Contributions and grants received
- $48,903
- Grants paid
- $0
- Program service revenue
- $38,795
- Investment income
- $120
- Other revenue
- $0
- Total assets, end of year
- $966,030
- Total liabilities, end of year
- $230,061
- Net assets or fund balances, end of year
- $735,969
- Program services expenses (Part IX)
- $456,028
- Management and general expenses
- $23,388
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $456,028
Program services were 95.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$48,903
-
1g · Noncash contributions included above
$2,378
-
2a · Program service revenue: LTM HOUSING
total $1,180 · related or exempt $1,180
-
2b · Program service revenue: COMM SVC FACILITY
total $34,630 · related or exempt $34,630
-
2c · Program service revenue: SERVICE FOR FEES
total $2,400 · related or exempt $2,400
-
2d · Program service revenue: ACCELERATOR FEES
total $585 · related or exempt $585
-
3 · Investment income
total $120 · related or exempt $120
-
8c · Net income from fundraising events
total $0
Functional expenses
Part IX, the statement of functional expenses.
-
11a · Fees: management
total $104,397 · program services $104,397
-
11b · Fees: legal
total $4,290 · program services $4,290
-
11g · Fees: other
total $16,765 · management and general $16,765
-
12 · Advertising and promotion
total $3,093 · program services $2,093 · management and general $1,000
-
13 · Office expenses
total $643 · management and general $643
-
16 · Occupancy
total $34,630 · program services $34,630
-
17 · Travel
total $824 · management and general $824
-
19 · Conferences, conventions and meetings
total $285 · management and general $285
-
22 · Depreciation, depletion and amortization
total $42,258 · program services $42,258
-
23 · Insurance
total $3,871 · management and general $3,871
-
24a · Other expenses: Program/Tech Assistance
total $243,553 · program services $243,553
-
24b · Other expenses: M.E.D. Week Expenses
total $16,026 · program services $16,026
-
24c · Other expenses: Program Costs - Other
total $8,781 · program services $8,781
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $633,978 · end of year $567,555
-
2 · Savings and temporary cash investments
beginning of year $15,007 · end of year $15,128
-
3 · Pledges and grants receivable
beginning of year $112,500 · end of year $112,500
-
4 · Accounts receivable
beginning of year $3,927
-
7 · Other notes and loans receivable
beginning of year $55,668 · end of year $51,978
-
9 · Prepaid expenses and deferred charges
beginning of year $43,333 · end of year $21,667
-
10a · Land, buildings and equipment: cost or other basis
$422,576
-
10b · Land, buildings and equipment: accumulated depreciation
$225,374
-
10c · Land, buildings and equipment, net
beginning of year $239,460 · end of year $197,202
-
15 · Other assets
beginning of year $246,045
-
17 · Accounts payable and accrued expenses
beginning of year $45,365 · end of year $53,075
-
24 · Unsecured notes and loans payable
beginning of year $176,986 · end of year $176,986
-
27 · Net assets without donor restrictions
beginning of year $246,108 · end of year $158,709
-
28 · Net assets with donor restrictions
beginning of year $881,459 · end of year $577,260
Mission and programs · 2022
Mission
Strengthen & preserve the social & economic fabric of OKCs underserved communities by engaging in programs and partnerships focused on housing stability, economic mobility, quality of place, and education.
Activities or mission (Part I)
PROMOTE EMPLOYMENT HOUSINGAND ECONOMIC DEVELOPMENT IN UNDERSERVED AND DISINVESTED COMMUNITIES THROUGHOUT OKLAHOMA CITY
-
Entrepreneurship & Small Business - accelerates inclusive growth and strengthens small business by providing technical assistance and coaching for underserved businesses. Components include networking, industry advice and business planning from vetted experts, technological tools, and culturally competent business skills training and facilitation. To date, the program has had over 100 contacts with small and minority-owned businesses and 30 businesses completing the Accelerator Program. Progress OKC is working to secure funding to expand program offerings so that many more businesses can be reached and helped in 2023 and beyond.
Expenses $88,149 · Revenue $585
-
KIVA Microloans - Progress OKC became the Oklahoma City KIVA hub in 2021. KIVA is an international organization that provides a lending platform and worldwide network of lenders, mentors, and borrowers to facilitate affordable, risk-tolerant microloans. These loans serve as the first rung on the capital ladder to provide funding to excluded small businesses who do not qualify for traditional loans. Since the Inception of the program, 21 loans totaling $73,425 have been made.
Expenses $51,436
-
Housing - Progress OKC builds homes available to low-to-moderate (LTM) income buyers. Projects are currently funded by HUD HOME Funds. Since the inception of this program, nine homes have been completed and sold. Seven of those homes were sold to LTM income buyers and two were market rate homes. Progress OKC secured funding to build an additional four homes in 2022. All four homes will be sold to LTM income buyers.
Expenses $48,528 · Revenue $1,180
-
Community Service Facility
Expenses $76,889 · Revenue $37,030
-
Minority Enterprise Development Week
Expenses $16,026
-
Law Enforcement Task Force - Progress OKC was pass-thru entity only. The City of Oklahoma City executed this program.
Expenses $175,000
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Ashley Dickson-OsoASHLEY DICKSON-OSO
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Ray DouglasRAY DOUGLAS
ASST SECRETARY
- Total calculated
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Kelly GrayKELLY GRAY
ASST SECRETARY
- Total calculated
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Joseph H AllenJOSEPH H ALLEN
TREASURERSECRETARY
- Total calculated
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Teresa GogginsTERESA GOGGINS
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Louis AlmarazLOUIS ALMARAZ
ASST SECRETARY
- Total calculated
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Keith KuhlmanKEITH KUHLMAN
INTERIM EXEC DIRECTOR
- Total calculated
- $0
- Hours/week
- 20
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Kenton TsoodleKENTON TSOODLE
PRESIDENT
- Total calculated
- $0
- Hours/week
- 5
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Kimberly FranciscoKIMBERLY FRANCISCO
EXECUTIVE DIRECTOR
- Total calculated
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 2 · Substantiation required before reimbursing expenses
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Part II
- Progress OKC has no direct employees and does not pay any
- Part II
- compensation at this time. Mr. Kuhlman, Mr. Tsoodle, and
- Part II
- Ms. Francisco are direct employees of, and are paid by,
- Part II
- the Alliance for Economic Development of Oklahoma City, Inc.
- Part II
- Progress OKC contracts with the Alliance for management services.
- Part II
- The Alliance is an unrelated organization.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 8 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202301289349303410
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